Netflix Leads and IBM Drags in Jumpy Trading Ahead of ECB Decision

It was another jumpy day of trading on Wednesday, though equities did manage to stage a late-hour rally to close out the session. Investor appetite was strong ahead of a European Central Bank announcement scheduled for Thursday morning in which President Mario Draghi is expected to announce stimulus measures. Economists anticipate he will outline bond purchases of up to 50 billion euros a month. Netflix shares were the best performer on the S&P 500, spiking 17.2% after reporting better-than-expected subscriber growth in its fourth quarter and as investors cheered the positive results of its original content strategy.